Experts recommend keeping your cryptocurrency investments to under 5% of your portfolio. If you’ve done that, then don’t stress about the swings, because they’re going to keep happening, according to Bill Noble, Chief Technical Analyst at Token Metrics, a cryptocurrency analytics platform.
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CYNTHIA LUMMIS: My son-in-law has a shirt that says friends don't let friends sell bitcoin. And that is my investment strategy for bitcoin.
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Going forward, it's impossible to know for sure how the value will change and whether it could rise further.
Bitcoin rose as much as 5.6% on Monday to $66,414, nearing its previous record of about $67,000. Ether advanced as much as 3% to a new high of $4,768.
Exchange data from Bybt shows that roughly $46 million worth of long ETH positions were liquidated across the board due to the sudden pullback. Since the flash crash, ETH has also failed to hold above $4,000.
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If they manage to do that, the BNB/USDT pair will challenge the overhead resistance at $691.80. The rising moving averages and the RSI in the overbought zone indicate the path of least resistance is to the upside.
On the downside, the zone between $67,000 and $63,750 is likely to act as a strong support. If this zone is breached, it will indicate that traders may be aggressively booking profits. The pair may then drop to the 50-day simple moving average (SMA) ($56,348).
Insurance and risk management for digital assets will increase investor confidence, said OneDegree.
Despite its size and name recognition, Binance has had issues with regulators. In 2017, Binance left China and re-located to Japan and Taiwan before eventually moving to Malta. However, in February 2020, after Malta announced that Binance was not actually within its jurisdiction, the exchange quickly changed positions and declared that it doesn’t have a headquarters because Bitcoin doesn’t have a central headquarters.
Transfer USD to your Binance.US account for no feeSet a market or limit order trade for USD to Bitcoin for a 0.1% fee
Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
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Within its first eight days of existence, DogeZilla has been said to have grown into a super microcap of $500million from just $50,000.